Ministry of Justice
On January 31, 2019 No. 53639
Appendix No. 48
to the Order of the Ministry of Finance of the Russian Federation of January 9, 2019 No. 2n
The International Standard of the Accompanying Services (ISAS) 4410 (reviewed) of "Task on compilation" should be considered together with the Preface to the Collection of International standards of quality control, audit and survey checks, the other tasks providing confidence, and tasks on rendering the accompanying services.
Scope of this standard
1. This The International Standard of the Accompanying Services (ISAS) establishes obligations of the practicing expert involved to rendering to management assistance in preparation and representation of financial information of last periods without ensuring confidence in the relation of this information and also for reflection in the reporting of data on the performed task according to this MSSU (see the Items A1 - A 2).
2. This MSSU is applicable to tasks on compilation of financial information of last periods. This standard can be applied, taking into account the corresponding adaptation, to tasks on compilation of the financial information which is not relating to financial information of last periods, and also to tasks on compilation of non-financial information. Further in this MSSU "financial information" is called "financial information of last periods" (see the Items A3 - A 4).
3. If the practicing specialist receives request for rendering to management assistance in preparation and representation of financial information, then proper consideration of question of can be required whether this task be performed according to this MSSU owes. To number of the factors specifying feasibility of application of this standard including preparation of the reporting based on this MSSU, questions of whether it is valid belong:
- disclosure of financial information is provided by provisions of the applicable laws or regulations and whether it shall be placed in open access;
- outer sides, except expected users of financial information, can associate the practicing specialist with such financial reporting, and there is risk that extent of participation of such specialist in preparation of this information can be incorrectly apprehended, for example:
- - if financial information is held for use the parties, except the management or persons who are responsible for corporate management or can be provided for benefit of the parties or is received by the parties, not being its expected users;
- - if the name of the practicing specialist is associated with financial information (see Item A 5).
Interrelation with MCKK 1 <1>
<1> The International Standard of Quality Control (ISQC) 1 "Quality control in the auditing organizations booking audit and survey verifications of the financial reporting, and also performing the other tasks providing confidence, and tasks on rendering the accompanying services".
4. Development and deployment of quality control systems, policy and procedures belongs to duties of auditing organization. Action of MCKK 1 <2> extends to the organizations of professional accountants in relation to tasks on compilation. This provision of MSSU, concerning quality control at the level of separate tasks on compilation, are developed proceeding from the fact that the auditing organization shall observe requirements of MCKK 1 or other requirements which are at least strict (see the Items A6 - A 11).
<2> MSSK 1, item 4.
Task on compilation
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